Spatial Access

Spatial Access audits Rs 6,000 cr of media spends

Business Line

India’s first agency in the audit and advisory space names heads for each unit and unveils new logo

Marketing services audit and advisory company, Spatial Access Solutions, claims to have audited Rs 6,000 crore of media spends this year. The eight-year old agency has been growing between 50 to 60 per cent CAGR and has recently restructured its operations to take care of its additional business over the years.

Speaking to Business Line, Ms Meenakshi Madhvani, Chairman, Spatial Access Solutions, said, “This year we have audited 44 per cent of the Rs 12,000 crore ad spends on television which amounts to Rs 6,000 crore worth of audited media.” With clients seeing value in the media audit business, Spatial Access is now poised to restructure its operations under different SBU’s and has also unleashed a new logo recently.

“We are no longer selling a concept and marketers are seeing value in auditing and analytics. Today, we do not need to get them convinced about the measurement of marketing investments and ROI. At the same time, as an organization we need to ramp up to address and deliver these needs and upgrade our services to keep up with the competition in this industry,” says Ms Madhvani.

DIFFERENT APPROACH

While Spatial Access was launched as India’s first media audit firm eight years ago, there were management consultants like Ernst & Young which was also offering a similar service. “Ernst & Young existed even before we came into this business but its approach is different as it is auditing from an accounting perspective, while in our case it is domain-based, using the standard data which the industry already uses like TAM and IRS,” explains Ms Madhvani.

Highlighting some trends in usage of media audits across industries, Ms Madhvani added, “It is the financial services sector which has been the most enthusiastic about media audits with respect to their leaflets and signages. The FMCG industry is also concerned about its film production audits in terms of its abilities to control costs while the telecom companies are concerned about benefits derived from the outdoor media.”